Contemporary consumers want to have more control over their money. They
are demanding more information faster and access to updates on activity
taking place on their accounts. They are also becoming increasingly
aware of the threat inherent in online transactions. Until recently,
bringing the consumer directly into the fraud detection value stream has
not been part of most issuers' risk management strategy.

New research from Mercator Advisory Group, Proactive Consumer Fraud
Communications: Don't Call Me, I'll Call You, examines how this paradigm
is changing and looks at the impact this is having on contact center
services, issuer support strategies, and direct-to-consumer apps. This
analysis considers the shifting consumer support environment, which is
responding to consumers' interest in information and personalized,
on-demand services as well as issuers' needs to better control fraud and
reduces expenses.

"For debit card portfolio managers responsible for delivering profitable
products in a constrained revenue environment, effectively managing risk
and responding to the expectations of an increasingly tech-centric
consumer creates a strong business need to consider how interactive
communications impact the franchise from a cost and value perspective,"
comments Patricia Hewitt, director of Mercator Advisory Group's Debit
Advisory Service and author of the report.

Highlights

- An analysis of consumer survey results relating to their use and
interest in proactive alerts, concerns about fraud, and communication
preferences

- The evolution of the consumer contact industry including the
development of virtual personal assistants to augment consumer
self-service channels

- A look at the direct-to-consumer fraud alert application, SafePay, a
solution designed to appeal to the small and medium enterprise (SME)
online merchant and the early adopter, risk-averse consumer

- A discussion of debit card issuers' interest in expanding the services
connected to their retail portfolio, which includes these emerging
communication technologies that serve to deputize cardholders into the
risk management process

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